US MA market at odds over December contract direction

10 November 2010 19:44  [Source: ICIS news]

HOUSTON (ICIS) - US maleic anhydride (MA) contract participants were at odds on Wednesday over which direction December contracts would take.

MA buyers said they were optimistic that December MA contracts would roll over from November since no producers have announced price initiatives.

Buyers have also said a rollover was likely as a result of  a seasonal lull in downstream unsaturated polyester resins (UPR).

However, MA producers have maintained there was still a possibility for a price increase by 1 January caused by higher butane prices.

Just this week, MA market participants confirmed November contracts at a rollover from October prices of 76.20-82.20 cents/lb ($1,680-1,812/tonne, €1,210-1,305/tonne) molten FOB (free on board) USG (US Gulf).

Major US MA producers include Huntsman, Lanxess, Marathon, Flint Hills, and Bartek.

($1 = €0.72)

For more on maleic anhydride (MA) visit ICIS chemical intelligence
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By: Brian Balboa
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